GUNDLACH: The Fed won't raise rates on Wednesday

CEO and CIO of DoubleLine Capital Jeffrey Gundlach
REUTERS/Eduardo Munoz
Jeff Gundlach, the CEO of DoubleLine Capital, thinks the Federal Reserve will be on hold in September.

Gundlach told Reuters that he does not think the Fed will raise rates on Wednesday when they conclude their two-day meeting of the Federal Open Markets Committee.

Gundlach did tell Reuters that the Fed will use "hawkish no-hike" language and will raise rates when rate hike probabilities are above 40% based on Bloomberg's World Interest Rate Probably. The measure currently is under 20%.

In a presentation earlier in September, Gundlach said that interest rates around the world had bottomed and he expected both rates and bond yields to move higher.